Ten Pacific Island countries which are members of the World Bank have a population of about 3.4 million people, scattered across an area equivalent to 15 percent of the globe’s surface, with a development trajectory that will be shaped by their economic geography.
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SYDNEY, March 15 2015 – We are deeply concerned for the people of Vanuatu in the face of the devastation caused by Cyclone Pam. We are waiting for official casualty reports and stand ready to help.The... Show More + World Bank's disaster risk management (DRM) team is monitoring the situation closely. The priority at this stage will be for the humanitarian and relief agencies to provide emergency assistance."Our hearts go out to the people of Vanuatu in the wake of the devastation from Cyclone Pam. Vanuatu is ranked as one of the world's most at-risk countries to natural disasters because of its vulnerability and exposure to cyclones," said World Bank Group President Jim Yong Kim. "Cyclone Pam is a devastating reminder of the risks of disasters and we will be working closely with the Government to provide any necessary support."The World Bank Group is now looking at every possible avenue and working with partners to support the people of Vanuatu. Given the intensity of the event and reports of severe damage, the World Bank is exploring the possibility of a rapid insurance payout to the Government of Vanuatu under the Pacific Disaster Risk Financing Insurance Program (PCRAFI).The World Bank will be available to assist with a post-disaster needs assessment if requested by the Government. Show Less -

Sydney Australia, February 27, 2015 – World Bank Vice President for East Asia and Pacific, Axel van Trotsenburg has today wrapped up a successful visit to the region where he discussed the World Bank’... Show More +s engagement with various partners and tabled the initial concept for a new regional report – Pacific Possible.“The past week has been an incredibly valuable trip which has afforded me the chance to speak directly with both development partners and beneficiaries of the many World Bank projects delivering for the Pacific,” van Trotsenburg said. “I’d like to take this opportunity to thank the countries for their warm hospitality.”Mr. van Trotsenburg and a small team of World Bank officials spent time in Australia and New Zealand to talk over continued partnership and the support of projects throughout the region. In Fiji the delegation met with Prime Minister Bainimarama and the Finance Minister to discuss the Bank’s re-launching of development programs in the nation, as well as the Pacific Islands Forum and the South Pacific Commission to discuss Pacific Possible.In Samoa and Tonga the delegation met with Prime Ministers Malielegaoi and Pohiva respectively to discuss ongoing projects, as well as the Chambers of Commerce for constructive feedback on Pacific Possible. A number of projects were also visited, including plant and livestock agriculture developments in Samoa, and post-cyclone home reconstruction on the island of Ha’apai in Tonga.“I make a deliberate effort to visit the Pacific Island countries when I come to the region”, van Trotsenburg said. “This was my first visit to Samoa, Fiji and Tonga and I have been impressed by each nation’s commitment to tangible, progressive reform agendas through sustainable development.”“The World Bank stands ready as long-term partner in action to continue its support for the Pacific region, and to help Governments to meet the objectives they’ve identified as priorities,” van Trotsenburg said.Mr. van Trotsenburg consulted with the public and private sectors on the concept of a planned report titled Pacific Possible that will analyze key development opportunities with significant potential for long-term impact. Some of the focus areas being considered include: tourism, ocean resources, knowledge economy, labor mobility, working together, and threats.“Pacific Possible was very well-received by both governments and the private sector during our concept consultations,” van Trotsenburg explained. “We’re pleased that the countries we’ve visited are keen to partner with us on this and capitalize on the World Bank’s extensive experience in using data and analysis to produce reports on development options to solve challenges facing countries and regions.”Mr. van Trotsenburg will return to his base in Washington D.C. later today. Show Less -

New opportunities for Pacific collaboration discussedNuku’alofa, Tonga, February 25, 2015 – Prime Minister Hon. ‘Akilisi Pohiva and World Bank Vice President for East Asia and Pacific Axel van Trotsen... Show More +burg will meet Wednesday to discuss existing development activities and new partnership opportunities, then attend a full Cabinet reception in Parliament.Mr. van Trotsenburg and a team of World Bank officials will also meet with senior Cabinet ministers and visit reconstruction projects in Ha’apai.On Thursday, Mr. van Trotsenburg will attend a breakfast with the Chamber of Commerce and Industry, as well as senior government and NGO representatives and journalists. Mr. van Trotsenburg will also visit the landing site of the 826-kilometer fibre optic cable connecting Tonga to Fiji.“This trip reinforces our steadfast dedication to long-term and robust development in the Pacific, including in Tonga,” van Trotsenburg said. “Today’s meeting is part of an ongoing conversation and partnership between the government of Tonga and the World Bank, and I look forward to seeing how we can deepen our support for the people of Tonga and the country’s ambitious development goals.”The World Bank currently has a portfolio of six active projects for a total commitment of $91.6 million (including co-financing and trust fund contributions) in Tonga. The projects support development in information communication technology, public financial management, resilience to climate change and natural disasters, maritime and roads infrastructure, aviation and education.“Tonga welcomes Mr. van Trotsenburg and the World Bank delegation,” Pohiva said. “I look forward to showing Mr van Trotsenburg all that Tonga has to offer and discussing opportunities for the World Bank’s current and future engagement in Tonga to reach its optimum development potential.”The visit also will provide an opportunity for Mr. van Trotsenburg to consult on a planned report titled Pacific Possible that will analyze key development opportunities with significant potential for long-term and robust impact. The project covers six focus areas: tourism, ocean resources, the knowledge economy, labor mobility, working together, and threats.Pacific Possible will examine the potential increases in income and living standards that could be achieved through regional policies supported by Pacific Island countries, along with partners around the broader Pacific Rim including: Australia, Japan, Korea and others.“Pacific Possible aims to provide sustainable recommendations that can deliver transformational differences to smaller Pacific Island countries such as Tonga,” van Trotsenburg explained. “The World Bank has a strong history throughout East Asia of providing valuable inputs for the big development challenges in countries including China and Vietnam. The World Bank has experience at using data and analysis to develop beneficial policy opportunities for countries – Pacific Possible aims to do the same for Pacific Island nations.” Show Less -

New opportunities for Pacific collaboration discussed Suva, Fiji, February 23, 2015 – Prime Minister Hon. Josaia Voreqe Bainimarama and World Bank Vice President for East Asia and Pacific Axel va... Show More +n Trotsenburg will meet Monday to discuss the reinvigorated partnership between the World Bank and the Fijian government following last November’s election.Van Trotsenburg and a team of World Bank officials also will meet with the Minister of Finance, other development partners, the Pacific Islands Forum Secretariat and the Secretariat of the Pacific Community.“Today’s meeting is a chance to strengthen our engagement with Fiji and discuss Prime Minister Bainimarama’s development objectives for the country,” van Trotsenburg said. “I congratulate Fiji, and Prime Minister Bainimarama, on the recent democratic elections and stand ready to continue our role as a long-term partner for development in the Pacific region.”The World Bank has previously acknowledged its plans to support the Fijian government’s development priorities, including transport infrastructure repairs, fostering private business growth and investment, improving livelihoods in rural areas and helping Fiji become more resilient to natural disasters.“Fiji welcomes Mr. van Trotsenburg and the World Bank delegation”, Bainimarama said. “We are eager for continued constructive dialogue on the areas this government has identified as most important for the nation’s development and the people of Fiji.”The visit also will provide an opportunity for Mr. van Trotsenburg to consult on a planned report titled Pacific Possible that will analyze key development opportunities with significant potential for long-term and robust impact. The project covers six focus areas – tourism; ocean resources; knowledge economy; labor mobility; working together, and threats.Pacific Possible will examine the potential increases in income and living standards that could be achieved through regional policies supported by Pacific Island countries, along with partners around the broader Pacific Rim (Australia, Japan, Korea and others).“Pacific Possible will provide sustainable recommendations that can deliver transformational differences to smaller Pacific Island countries, including Fiji,” van Trotsenburg explained. “The World Bank has experience using data and analysis to produce reports to support development in countries including China and Vietnam, Pacific Possible will apply this approach to help generate policy opportunities for Pacific Island countries.” Show Less -

Report to assist policy makers and donors to make rural investment more effectiveHONIARA, February 6, 2015 – A World Bank report launched today in Honiara has looked at ways in which the Solomon Islan... Show More +ds Government and development partners can improve their funding mechanisms; resource distribution and; planning processes for investing in rural infrastructure and service delivery.World Bank Country Manager Anne Tully said, “following the Tension, when Government capacity had greatly diminished in parts of the country, donors and Government invested in a number of programs which delivered direct benefits to rural areas. Now, a second generation of programs is taking shape, and this report is intended to inform discussion as to how best to refine and institutionalize more effective, accountable and transparent investment in rural development.”Solomon Islands, Towards Better Investment in Rural Communities identifies ways to strengthen current methods for investing in rural service delivery by examining the main types of financing for small-scale infrastructure and livelihood activities at provincial, constituency, and community levels. It examined 1449 sub-projects funded between 2008 and 2012.The report looked at a total of more than US$134 million in rural funding disbursed through the four largest rural investment programs: Provincial Capacity Development Fund (provincial level); Rural Development Program and the Rural Advancement Micro-projects Program (community level); and the Rural Constituency Livelihood Fund, and constituency funds more broadly (constituency level).Specifically, the report analyzed how the four programs performed in the areas of local development planning; efficiency and effectiveness; accountability, transparency and dispute management; and technical quality and sustainability.“The findings of the report highlight the need to redefine the current funding streams at constituency, community and provincial levels,” said World Bank Senior Operations Officer Erik Johnson. “Funds should be aligned with clear mandates as well as appropriate capacities for implementation. There is currently signficant overlap in the use of funds, and no clear vision as to how the funds can complement each other as well as the activities of sector ministries.”Solomon Islands, Towards Better Investment in Rural Communities recommends the redistribution of resources across constituency, provincial and community funds as well as an integrated planning process to better align currently disconnected processes – starting with inclusive, participatory village and ward level planning, and working up through the constituency, provincial Government and national levels. Show Less -

January 26, 2015Key FindingsAlmost 200 million people moved to urban areas in East Asia from 2000-2010, a figure that would be the world’s sixth-largest population for any single country.Most of East ... Show More +Asia’s population is still non-urban, meaning the region will likely face decades of further urbanization.The Pearl River Delta in China – which includes the cities of Guangzhou, Shenzhen, Foshan and Dongguan – has overtaken Tokyo as the world’s largest urban area in both size and population, with more inhabitants than countries such as Argentina, Australia or Canada.China’s government-implemented urbanization dominates East Asia with 600 of the region’s 869 urban areas located in the country, which also has more than two-thirds of East Asia’s total urban land.East Asia’s urban areas included eight “megacities” with populations over 10 million, 123 large cities with one to 10 million people, and 738 medium and small cities with 100,000 to one million people.The report establishes a direct link between urbanization and income growth, showing how economic output per capita increased throughout the region as the percentage of people living in urban areas went up.Expanding urban areas often cross administrative or political boundaries such as municipal borders, which fragments government management and revenue sources.The rate at which urban areas expanded physically varied widely between countries. Mostly rural countries had the highest spatial expansion rates, with Lao PDR at 7.3 percent and Cambodia at 4.3 percent, while industrialized Japan had the lowest rate of increase at 0.4 percent despite containing the second-largest amount of urban land behind China. Show Less -

World Bank approves US$32.97 million for regional fisheries programWASHINGTON, December 22, 2014 – The World Bank’s Board of Executive Directors today approved US$32.97 million in International Develo... Show More +pment Association (IDA) grants and credits to support the Pacific Islands Regional Oceanscape Program (PROP) – a regional program of operations to strengthen the management of select Pacific Island fisheries.PROP will initially provide funding to the Federated States of Micronesia, the Republic of the Marshall Islands, the Solomon Islands, Tuvalu and the Pacific Islands Forum Fisheries Agency to improve the sustainable use of oceanic fisheries, coastal fisheries, and the critical habitats on which they depend. “The social and economic benefits gained from ensuring the strength and sustainability of what is a major source of national revenue and livelihoods in many countries will be significant,” said Franz Drees-Gross, Country Director for the World Bank in Timor-Leste, Papua New Guinea, and the Pacific Islands. “Improved management of this vital resource offers significant revenue potential for Pacific Island Countries – revenue which will ultimately help reduce poverty and boost shared prosperity.”Specifically, PROP will target the sustainable management of oceanic fisheries by strengthening the capacity of regional and national institutions to manage fisheries and ensure the benefits they produce are equitably shared within Pacific Island countries. The project will support the sustainability of coastal fisheries by helping to empower stakeholders to better manage fisheries, and by linking sustainable coastal fish products to regional markets.PROP will also protect critical fishery habitats by creating financing mechanisms to fund the conservation of the growing number of protected marine areas in the region, and providing funds to ensure a coordinated regional approach to the implementation, monitoring and evaluation of the program.“Oceanic and coastal fisheries in the Pacific are reaching their long-term sustainable limits due to environmental changes and overfishing by vessels from outside the region,” said James Movick, Director General of the Pacific Islands Forum Fisheries Agency. “Collaboration among Pacific nations to secure the health of fisheries is essential to regional economic integration and growth. PROP will support this by building on existing fisheries management policies and frameworks already adopted by governments and administrations in the region.”The program will promote the local implementation of shared regional objectives, together with coordination from the Pacific Islands Forum Fisheries Agency. PROP will eventually expand the number of countries involved over its six to 10 year duration, with the potential to involve all 11 eligible Pacific Island Countries.“Pacific Island countries’ economies are in many cases driven by a strong reliance on healthy coastal ecosystems for food, livelihoods, weather protection, and resilience to shocks,” said John Virdin, Senior Natural Resources Management Specialist for the World Bank and task team leader for the project. “As the threat from climate change grows throughout the region – including sea-level rises and the potential for more intense and frequent storm events – maintaining or restoring healthy ocean environments and resources will be fundamental to building resilience to climatic shocks.”PROP will be funded through a US$32.97 million in grants and credits from the IDA, the World Bank’s fund for the poorest countries. An additional US$6.3 million will be provided by the Global Environment Facility (GEF) Trust Fund to the Solomon Islands, Tuvalu and the Pacific Islands Forum Fisheries Agency. Show Less -

World Bank approves US$47.5 million for the Palau-Federated States of Micronesia Connectivity ProjectWASHINGTON, December 17, 2014 – The World Bank’s Board of Executive Directors today approved the se... Show More +cond phase of the Pacific Regional Connectivity Program (PRCP) – addressing the need for more widespread access to Information & Communication Technology (ICT) in the Northern Pacific.The project will support more widely available broadband internet and associated value-added services needed to support social and economic development in the Federated States of Micronesia (FSM) by reducing the cost and increasing the capacity of international bandwidth.“This phase of the Pacific Regional Connectivity Program will assist the Federated States of Micronesia in overcoming its challenges of remoteness and dispersed geography,” said Franz Drees-Gross, Country Director for the World Bank in Timor-Leste, Papua New Guinea, and the Pacific Islands. “Increasing access to affordable ICT will allow individuals, businesses, government and nongovernment agencies in the FSM to take advantage of the benefits better connectivity can bring, including improved social and economic opportunities and better service delivery.”The project consists of a US$47.5 million grant to the FSM, to be co-financed by a planned US$25 million Asian Development Bank loan to the Republic of Palau. PRCP will support the construction of submarine cable systems to connect Palau with the FSM state of Yap and the US territory of Guam; and the FSM states of Chuuk and Pohnpei; as well as the provision of next generation satellite broadband for the FSM state of Kosrae.In addition to infrastructure investment, the project will provide technical assistance to the FSM to further improve the environment for ICT development, including a strengthened regulatory framework overseen by a new independent regulator – building on pro-competitive legislation enacted in April 2014. The MicroPal Fiber Optic Joint Committee established by the Governments of the FSM and the Republic of Palau will oversee planning and implementation of the project.The second phase of the Pacific Regional Connectivity Program is funded through a US$47.5 million grant from the International Development Association (IDA), the World Bank’s fund for the poorest countries. The first phase of this program was the Tonga-Fiji Connectivity Project, co-financed with the Asian Development Bank and Tonga Communications Corporation. The cable to Tonga became operational in August 2013. Show Less -

Supporting the most vulnerablePriority was given to the replacement of destroyed or damaged housing for the most vulnerable members of the community. Consultations took place with the government and c... Show More +ommunities to determine who fell into this category. Ultimately, the most ‘vulnerable’ were defined as those who had members of the family who were disabled, single parents, or widowed. They were also those who have eight or more people in the immediate family, had low or no remittances, or where the head of the household was aged 65 years or older.These ‘houses for vulnerable’ (H4V) provide two rooms for the family to move into and will be the first completed.“When we came back after the cyclone our house was blown away,” said ‘Eseta Fakahua, mother of seven who received one of the first houses built. ”We are very happy to have this house and we are looking forward to staying here for the rest of our lives.”Other housing activities are also scheduled. For instance, eligible families will receive support to replace, repair, or retrofit homes for climate resilience.Preparing for the futureIn many places, houses constructed to climate-resilient standards in the early 1980s withstood Cyclone Ian. However, newer homes were completely destroyed or severely damaged. It’s vital that the project includes preparation and resilience against future natural disasters.All houses being constructed through the program are climate-resilient and can withstand wind speeds to up to 70 meters (230 feet) per second. Retrofitting and repairing will also take place to strengthen houses for up to 1,000 eligible families. Community facilities, including the main Lifuka market, will be reconstructed and strengthened.“For the houses, we used the design that has been tested before and that’s in accordance to the Category 3/Category 4 cyclone resistant standards,” said Uatea Salesa, Project Manager of the Tropical Cyclone Ian Reconstruction Project. “Our aim is, probably towards the end of the year, that those families will be back into their houses.” Show Less -

WASHINGTON, December 17, 2014 - The World Bank’s Board of Executive Directors today approved the following projects:Federated States of Micronesia - Pacific Regional Connectivity Program 2: Palau-FSM ... Show More +Connectivity ProjectIDA Grant: US $47.5 million equivalentProject ID: P130592Project Description: The objective of the project is to reduce the cost of and increase the availability of information and communication technology (ICT) services needed to support social and economic development. Show Less -

Technology for the FutureThe initiative builds on earlier World Bank assistance in Samoa aimed at delivering short term disaster relief through budget support, by focusing on longer term recovery.Deve... Show More +lopers say that the new system could enable targeted payments across the Pacific, where access to mobile phones has recently escalated to reach more than two million people. Additionally, the technology could be used not only for rapid disaster response, but also for social or other insurance, or services delivery.Building on the success of the pilot program, the project is rolling out the e-voucher system to a total of nearly 7,400 farmers and fishermen, many of whom will have received funds by the end of this year. This will provide a significant boost to agriculture production and subsequent incomes, helping Samoa to build a more resilient agricultural sector for the future. Show Less -

Better Technology, New MarketsThe report looks at case studies that illustrate governance lessons and recommendations to assure that fish resources deliver their full contribution to economic growth. ... Show More +Foreign arrangements can offer better technologies for fishing and processing while opening up new and more profitable markets for fish products.In the Western Pacific, regional cooperation between neighboring coastal states has allowed greater returns to all countries involved in the tuna fishery. By defining access rights and putting into place uniform and cooperative surveillance and management systems, these small-island developing states have gained more control over their tuna resources. Furthermore, competitive arrangements for distant water nations involved in tuna fishing services significantly increased the flow of benefits to domestic development."All of our efforts are underpinned by a strong commitment to sustainable resource management," said Movick. "Some indicators of recent success include a near doubling in the value of tuna catch from FFA waters between 2007 and 2013 and a quadrupling of access fees in that period. There has been a 50% increase in employment of Pacific Islanders in the tuna fishery from 12,000 to 18,000 jobs over the same period.”Improving Governance and Securing Access RightsThe report distills the lessons learned from case studies into nine key recommendations to improve foreign access arrangements. Among them, the report emphasizes the importance of effective governance and access rights for all fisheries within a country’s exclusive economic zone.“The case studies provide critical practical caveats and important governance lessons,” says Tim Bostock, World Bank Senior Fisheries and Oceans Specialist. “As sovereign resource owners, governments of coastal developing countries are ultimately accountable to their populations for the productive use of natural resources, enabling their contribution to economies, welfare and shared prosperity. Without doubt, foreign fishing arrangements as a form of free trade in fishing services could make important contributions to this objective.”The report strongly recommends that all domestic participants in the sector, especially small-scale fishers, must be involved in decision making not only on policies aimed at secure and enforceable tenure and use rights, but also in regard to future foreign fishing.These conclusions reinforce the recommendations of the Blue Ribbon Panel in their report Indispensable Ocean: Aligning Ocean Health and Human Well-Being. The panel of experts and leaders from around the world and across sectors advised that investments must equitably respond to needs of all users of ocean resources and also sustainable use of the environment. Trade in Fishing Services provides further guidance on policies and practices that align ocean health and human well-being.Analyzing the Legal Principles that Underpin Foreign AccessThe report reveals significant legal ramifications. Coming into force some 31 years ago, the United Nations Convention on the Law of the Sea (UNCLOS) has generally been interpreted to suggest that coastal states are obliged to make available their ‘surplus’ fish stocks to exploitation by other states. The report reveals that, in fact, coastal states have no obligation to do so and need only engage in foreign access arrangements should it be in their economic interest to do so. The report queries the extent to which this fact has been misinterpreted in the past; it also queries the extent to which some developing coastal states may have entered into foreign access arrangements on the assumption that they were obliged to do so under this Convention.This report should help inform coastal states of their rights under international law so they may allocate fish resources and services with economically and socially beneficial strategies.With better and more transparent arrangements, there is an optimistic vision for the future of fish stock, human well-being and international cooperation. Show Less -

Overcoming challenges in constructionProject delays have resulted from logistical challenges, including the slow delivery of supplies via boat, a largely unskilled technical workforce, and high tides.... Show More + Additionally, the average land width in South Tarawa is just 450 meters (1476.4 feet) which leaves limited space for construction.Despite challenges, people have been able to adapt to changed conditions caused by construction.“We thought the main problem would be traffic, given that there are no other venues to divert the road. However, road users appear to have adjusted with no major issues,” Tira said.The project is expected to be completed in 2017, including a two-year maintenance period following the main civil works. Show Less -

Expanding the market for Samoan produceLeicester Dean is the founder and general manager of Sale'imoa Aparies which produces Samoa's popular "Tropical Honey", and is applying to join the Mat... Show More +ching Grants Program’s next round. Leicester hopes to restore bee hives lost during Cyclone Evan and invest in facilities that will enable him to reach new export markets."There is real potential for Samoan honey. We want to expand and export, but what we really need is a proper facility, such as a honey house for extraction. You can't just do it under the mango tree like we do now,” he says. “We could potentially produce up to 30 tons a year – that’s up to ten times the three or four tons we currently make."“The World Bank is committed to supporting initiatives like SACEP to assist the government in securing the long term competitiveness of the agricultural sector,” says Franz Drees-Gross, Country Director for the World Bank in Timor-Leste, Papua New Guinea, and the Pacific Islands. “Boosting the opportunities for producers to increase the quality and volume of output will ensure local needs are met and the potential for Samoan exports is realized.”“Agriculture is an area where we need a lot of development,” says Mr. Rasch, “We grew up knowing that farming was the backbone of the economy. We used to have cocoa, copra, bananas and now that industry's all gone. But we know there's a good market out there for what we do still produce. With the backing of governments and donors, we can do it.” Show Less -

Governments of Samoa, Tonga, Vanuatu, Cook Islands, and the Marshall Islands request extension of Successful Regional Catastrophe Risk Insurance PilotSYDNEY, November 3, 2014 – The beginning of the mo... Show More +nth marked the start of the third season of the Pacific Catastrophe Risk Insurance Pilot. Launched on 17 January 2013, the pilot helps reduce the financial vulnerability of small island nations to natural disasters. This regional sovereign insurance program is made possible through the collective efforts of the Government of Japan, the World Bank, the Global Facility for Disaster Reduction and Recovery (GFDRR), and the Secretariat of the Pacific Community (SPC).The third season will run from November 1, 2014 to October 31, 2015 and is comprised of five members― the Cook Islands, Marshall Islands, Samoa, Tonga, and Vanuatu.The program has already proven its rapid response capability as Tonga received a payout of US$ 1.27 million on January 23, 2014―two weeks after Cyclone Ian swept across the nation’s Ha’apai Island group displacing thousands, devastating crops and infrastructure. According to reports, up to 75 percent of buildings had been damaged in the affected area."The cash received from the risk insurance pilot made an important financial contribution for carrying out the governments’ strategy for mitigating natural disasters”, said Hon. Dr. ‘Aisake Valu Eke, Minister of Finance, Tonga. “Thanks to this initiative, Tonga is now on its way to recover without interruption ensuring people can return to their everyday lives quickly”.The third season aims to build on this momentum by providing a full spectrum of both financing and physical disaster risk management tools to Pacific Island Countries (PICs). Working together, PICs have been able to secure aggregate insurance coverage worth US$43 million against tropical cyclones and earthquakes/tsunamis. This support is crucial given the exposure of the region to disasters―extreme natural events have affected more than 9.2 million people in the Pacific since 1950 and caused damaged of about US$ 3.2 billion.As in the previous seasons, the World Bank will act as an intermediary between PICs and a group of reinsurance companies, which were selected through a competitive bidding process―Sompo Japan Insurance, Mitsui Sumitomo Insurance, Tokio Marine & Nichido Fire Insurance Swiss Re and Munich Re. AIR Worldwide provides the underlying risk modeling for the transaction.“The continuation of the insurance pilot in the Pacific is an important step towards the creation of sustainable post-disaster financing options for small island states,” said Franz Drees-Gross, World Bank Country Director for the Pacific Islands. “Insurance payouts through this pilot offer immediate financial support to countries affected by natural disasters, something international aid often can’t provide as quickly.”About the Pacific Catastrophe Risk Insurance PilotThe Pacific Catastrophe Risk Insurance Pilot is part of the broader Pacific Disaster Risk Financing and Insurance (DRFI) program designed to increase the financial resilience of PICs against natural disasters by improving their capacity to meet post-disaster funding needs. Through this program advisory services are available to PICs for public financial management of natural disasters, including (i) the development of a national disaster risk financing strategy, recognizing the need for ex-ante and ex-post financial tools; (ii) post-disaster budget execution to ensure that funds can be accessed and disbursed easily in the onset of a disaster; and (iii) the insurance of key public assets to contribute to post-disaster reconstruction financing.About the Pacific Risk Assessment and Financing Initiative (PCRAFI)The Pacific DRFI Program is part of the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI), a joint initiative of the World Bank, SPC, and the Asian Development Bank with financial support from the Government of Japan, the Global Facility for Disaster Reduction and Recovery (GFDRR) and the European Union. PCRAFI, launched in 2007, aims to provide the Pacific island nations with disaster risk assessment and financing tools for enhanced disaster risk management and climate change adaptation.The Secretariat of the Pacific Community (SPC)The SPC was founded in 1947 and is the Pacific Island region’s principal technical and scientific organisation. It delivers technical, scientific, research, policy and training support to Pacific Island countries and territories in fisheries, agriculture, forestry, water resources, geoscience, transport, energy, disaster risk management, public health, statistics, education, human rights, gender, youth and culture. The support for the Pacific Catastrophe Risk Insurance Pilot is provided by Phase 3 of the PCRAFI project which is headquartered in SPC’s Applied Geoscience & Technology Division.About the Disaster Risk Financing and Insurance Program (DRFIP)DRFIP is a joint program of the World Bank’s Finance & Markets Global Practice (FMGP) and the Global Facility for Disaster Reduction and Recovery (GDFRR). It is a leading partner of developing countries helping governments, businesses, and households manage the financial impacts of disaster and climate risks without compromising sustainable development, fiscal stability, or wellbeing.About the Global Facility for Disaster Reduction and Recovery (GFDRR)GFDRR helps high-risk, low-income developing counties better understand and reduce their vulnerabilities to natural hazards, and adapt to climate change. Working with over 300 national, community level, and international partners GFDRR provides grant financing, on-the-ground technical assistance helping mainstream disaster mitigation policies into country level strategies, and thought leadership on disaster and climate resilience issues through a range of knowledge sharing activities. GFDRR is managed by the World Bank and funded by 21 donor partners.About the World Bank GroupThe World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries to address the most urgent challenges of development. For more information, please visit www.worldbank.org, www.miga.org, and ifc.org. Show Less -

Sydney, Australia, October 29, 2014— Palau, Solomon Islands, Timor-Leste, and Vanuatu are the Pacific economies that have implemented reforms to encourage business growth over the past year, according... Show More + to a World Bank Group report measuring the ease of doing business in 189 economies across the globe.Released today, Doing Business 2015: Going Beyond Efficiency finds that between June 2013 and June 2014, Timor-Leste made the biggest improvement in starting a business while Solomon Islands improved the most in the ease of getting electricity. Palau made trading across borders easier and Vanuatu made property transfers faster.“This year, we see the results of key reforms put in place in Timor-Leste and Solomon Islands to tackle impediments that have been hampering entrepreneurship for years, ” said Jonathon Kirkby, Senior Operations Officer at the International Finance Corporation (IFC), the World Bank Group member focused exclusively on the private sector. “It is also very encouraging to see Palau and Vanuatu continuing to introduce new measures that improve the business environment and attract investment.”The 2015 report’s methodology has been revised and the ease of doing business ranking is calculated based on the distance-to-frontier score, which measures how close an economy is to global best practices in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions, with 100 being a perfect score. Solomon Islands, Timor-Leste, and Vanuatu all recorded an improvement in their distance-to-frontier score.This year’s report finds that entrepreneurs in East Asia and the Pacific continue to see improvements in the business environment, with 24 regulatory reforms[1] implemented by the region’s economies between June 2013 and June 2014.“Since 2005, the East Asia and the Pacific region has narrowed the gap with global good practices,” said Rita Ramalho, the lead author of the World Bank Group’s Doing Business 2015 report. “Consistent regulatory reforms have improved the ease of doing business in the region in the past decade and contributed to more business opportunities for local entrepreneurs.”The 2015 report finds that many East Asia Pacific economies made it easier for businesses to pay taxes; for example, China enhanced its electronic filing and payment system as well as making business incorporation less expensive. Indonesia implemented three regulatory reforms to improve prospects for small enterprises, while Vietnam reduced its corporate income tax rate. In Mongolia, local businesses saw the average time needed to pay taxes fall from 192 hours a year in 2013 to 148 hours – less than in Austria.The top 10 economies in this year’s ease of doing business rankings are, in this order: Singapore, New Zealand, Hong Kong, Denmark, the Republic of Korea, Norway, the United States, the United Kingdom, Finland, and Australia.---------------------------------------------------------------------------------------------------------------------------Reforms Recognized in Pacific nations: Doing Business 2015Palau made trading across borders easier by improving the system for calculating customs duties and thereby reducing customs clearance time.Solomon Islands made getting electricity easier by improving procurement practices for the materials needed to establish new connections. It is the most improved country when it comes to “getting electricity.”Timor-Leste made starting a business easier by creating a one-stop shop that reduced the time required to start a business from 94 days to just 10. It is the most improved country when it comes to “starting a business.”Vanuatu made property transfers faster by digitizing its land registry system and hiring and training new staff.---------------------------------------------------------------------------------------------------------------------------About the Doing Business report seriesThe annual World Bank Group flagship Doing Business report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and resolving insolvency. The aggregate ease of doing business rankings are based on the distance-to-frontier scores for 10 topics and cover 189 economies. Doing Business does not measure all aspects of the business environment that matter to firms and investors. For example, it does not measure the quality of fiscal management, other aspects of macroeconomic stability, the level of skills in the labor force, or the resilience of financial systems. Its findings have stimulated policy debates worldwide and enabled a growing body of research on how firm-level regulation relates to economic outcomes across economies. Each year the report team works to improve the methodology and to enhance their data collection, analysis and output. The project has benefited from feedback from many stakeholders over the years. With a key goal to provide an objective basis for understanding and improving the local regulatory environment for business around the world, the project goes through rigorous reviews to ensure its quality and effectiveness. This year’s report marks the 12th edition of the global Doing Business report series. For more information about the Doing Business reports, please visit doingbusiness.org and join us on doingbusiness.org/Facebook.About the World Bank GroupThe World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries to address the most urgent challenges of development. For more information, please visit www.worldbank.org, www.miga.org, and ifc.org.[1] Reform count excludes Australia, Japan, the Republic of Korea, and New Zealand, which are classified as OECD high-income economies. Show Less -

Sydney, Australia, October 29, 2014—Solomon Islands has improved the ease of getting electricity the most out of 189 economies over the past year, according to a World Bank Group report that ranks the... Show More + economies in terms of their ease of doing business.Released today, Doing Business 2015: Going Beyond Efficiency finds that the waiting time for new electricity connections in Solomon Islands has been cut by two-thirds to 53 days due to improved procurement practices, making it easier for businesses to access power and encouraging entrepreneurship.“Improving access to electricity for local businesses is important for the island nation’s economic development,” said Jonathon Kirkby, Senior Operations Officer at the International Finance Corporation (IFC), the World Bank Group member focused exclusively on the private sector. “It is very encouraging to see the Solomon Islands government focused on reforms that open up business opportunities and, in doing so, creates jobs.”The 2015 report’s methodology has been revised and the ease of doing business ranking is calculated based on the distance-to-frontier score, which measures how close an economy is to global best practices in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions, with 100 being a perfect score. Solomon Islands’ score is 63.08, up from 61.06 last year, pushing its ranking up 10 places to 87 this year.Across East Asia and the Pacific, the report finds that entrepreneurs continue to see improvements in the business environment, with 24 regulatory reforms[1] implemented by the region’s economies between June 2013 and June 2014.“Since 2005, the East Asia and the Pacific region has narrowed the gap with global good practices,” said Rita Ramalho, the lead author of the World Bank Group’s Doing Business 2015 report. “Consistent regulatory reforms have improved the ease of doing business in the region in the past decade and contributed to more business opportunities for local entrepreneurs.”This year’s report finds that many East Asia Pacific economies made it easier for businesses to pay taxes; for example, China enhanced its electronic filing and payment system as well as making business incorporation less expensive. Indonesia implemented three regulatory reforms to improve prospects for small enterprises, while Vietnam reduced its corporate income tax rate. In Mongolia, local businesses saw the average time needed to pay taxes fall from 192 hours a year in 2013 to 148 hours – less than in Austria.The top 10 economies in this year’s ease of doing business rankings are, in this order: Singapore, New Zealand, Hong Kong, Denmark, the Republic of Korea, Norway, the United States, the United Kingdom, Finland, and Australia. About the Doing Business report seriesThe annual World Bank Group flagship Doing Business report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and resolving insolvency. The aggregate ease of doing business rankings are based on the distance-to-frontier scores for 10 topics and cover 189 economies. Doing Business does not measure all aspects of the business environment that matter to firms and investors. For example, it does not measure the quality of fiscal management, other aspects of macroeconomic stability, the level of skills in the labor force, or the resilience of financial systems. Its findings have stimulated policy debates worldwide and enabled a growing body of research on how firm-level regulation relates to economic outcomes across economies. Each year the report team works to improve the methodology and to enhance their data collection, analysis and output. The project has benefited from feedback from many stakeholders over the years. With a key goal to provide an objective basis for understanding and improving the local regulatory environment for business around the world, the project goes through rigorous reviews to ensure its quality and effectiveness. This year’s report marks the 12th edition of the global Doing Business report series. For more information about the Doing Business reports, please visit doingbusiness.org and join us on doingbusiness.org/Facebook.About the World Bank GroupThe World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries to address the most urgent challenges of development. For more information, please visit www.worldbank.org, www.miga.org, and ifc.org.[1] Reform count excludes Australia, Japan, the Republic of Korea, and New Zealand, which are classified as OECD high-income economies. Show Less -

WASHINGTON D.C., September 25, 2014 – The World Bank and the Independent State of Samoa today signed an agreement for a US$7.5 million grant from the International Development Association (IDA). The g... Show More +rant is the first in a two-part operation aimed at strengthening public finances and supporting continued economic growth in Samoa.The Hon. Prime Minister and Minister for Finance Tuilaepa Aiono Sailele Malielegaoi signed the agreement today in New York.“This grant will contribute towards national efforts in taking forward the Samoa Pathway outcomes of the recent Small Island Developing States Conference,” said the Hon. Prime Minister and Minister for Finance Tuilaepa Aiono Sailele Malielegaoi. “The continuing reforms are important to the implementation of the key priorities for the Government of Samoa, boosting shared prosperity across the country.”The grant will contribute to strengthening public financial management as well as a sustainable tourism policy and private sector development. Improvements in the payments system will also have important impacts for remittances which are critical to many Samoans, contributing, on average, almost 25 percent to GDP over the last four years.“Strong public financial management ensures effective use of public resources allowing for better delivery of services to everyday Samoans in areas such as health, education and infrastructure,” said Axel van Trotsenburg, World Bank Group Vice President for East Asia and the Pacific. “This grant is part of our comprehensive support program for Samoa and its people. We have a strong and deep relationship with Samoa and are committed to a long term partnership focused on supporting the country’s development strategy.” Samoa is an important Pacific Island country that faces significant challenges related to external shocks and natural disasters. In recent years it has weathered the global financial crisis and natural disasters including a tsunami in 2009 and a cyclone in 2012 that caused combined damages and losses estimated at 30 percent of GDP.This operation will be implemented alongside other World Bank support in Samoa such as post-cyclone recovery and reconstruction work including infrastructure restoration, boosting agriculture productivity and strengthening the tourism industry. Show Less -

Increasing the reach of local produceThe major thrust of the project has been its large-scale matching grant program, currently benefitting 190 commercial fruit and vegetable and livestock farmers – 5... Show More +0 from the initial pilot stage – to help them invest in the overall management of their farms.Using these funds, Sara Ahhoy from Aleisa village has been able to construct a new nursery and 13 tunnel houses which help protect crops from heavy rain and minimize pests."I have seen a big difference in terms of the quantity of vegetables we are growing now,” she explains. “When we grew them outside, pests were a problem but also not so many vegetables would be harvested. Now, this house of tomatoes has lasted three months already, and we're still harvesting. Before they would last just three or four weeks.”Today Sara is running a successful fruit and vegetable business which supplies hotels as well as Apia's main hospital. She grows a wide range of herbs - relatively new for Samoan farmers - as well as tomatoes, capsicums, salad vegetables, spring onions, and cabbages.Other fruit and vegetable farmers have used the project to invest in new tools and technology; water storage and rock removal are major focus areas on many farms, as well as diversification of what is being grown. Aside from grants, multi-year research programs are experimenting with new varieties of vegetables to see what works best in Samoan soils and climate.Meanwhile commercial livestock farmers have been able to access funds to restore depleted pasture, purchase new animals and construct critical fencing or shelters which were badly damaged by Tropical Cyclone Evan in 2012. All participating farmers are set to benefit from comprehensive business trainings and extension services. Maximizing the potential of the landIt seems that the market is ripe for high quality local food that is distinctly Samoan. With the right support, and with partners such as the Small Business Enterprise Centre and the Development Bank of Samoa, the project aims to ensure farmers can take advantage of such opportunities: to connect them to buyers, enable them to improve the value of their goods, and increase the market for fresh, healthy and ultimately local produce.This would be good for the economy and ultimately good for Samoa, and could set an important precedent for greater self-sufficiency in Pacific island countries. Show Less -

Distinguished co-chairs, members of the panel, your excellences, ladies and gentlemen, friends and colleagues,There is no need to debate the reality of climate change. The scientific consensus of the ... Show More +last few years has brought climate change over the planning horizon for all countries. The science is absolutely clear and is understood almost everywhere. The impacts are being felt now. And in fact, the economics are compelling. A dollar invested in early warning can save $30 in the cost of relief and reconstruction after a disaster.The costs are already punishing, especially for small island developing states. It is only the politics globally and nationally that are in doubt. As the Secretary-General of the United Nations and World Bank Group President Jim Yong Kim have said, 2014 must be the year of climate action. As Mary Robinson highlighted, in less than one month from now, heads of state and CEOs will meet in New York to confirm their commitment to take action on climate change.The question we’ve been asking at The World Bank Group is, what does leadership look like at the beginning of the 21st century? What are leaders doing that will alleviate the burden that is already being felt in countries such as this? Countries, we hope, will describe how they’re re-tooling their economies with smart policies that put a price on carbon, that get the finance flowing, that drive efficiency through energy and transport and appliances and buildings. And set targets for renewable energy as part of an energy mix. Each country – developed, fast growing, and emerging – can pull the fiscal and economic and macroeconomic levers of policy and send clear signals to the private sector to drive investment away from the dirty and towards the clean.With that kind of public policy intent, companies can describe how they take climate risks and how they seize opportunity and how they are changing their business planning. And it’s not theoretical; because we can point to countries at every stage of development that are already doing this. Together, if they all line up, you can start to see the momentum that is desperately needed for countries like these, in this region.So we hope that at the Climate Summit there will be announcements about climate across many sectors, but we sincerely hope that there will be material announcements on the things which are absolutely profound and matter most in terms of how we manage our economies.And there is a real need for policy coherence. You can’t dump your old car in the Pacific and then spend development assistance trying to clean the air. You can’t not tax carbon and then struggle to raise the dollars needed for development assistance and climate finance that will invest in resilience.You could expand this to local programs and reduce the amount that has to be spent in the region by multilaterals and bilaterals. We simply cannot afford to keep spending money the way we do. It has been small island developing states that have been pointing this out for years. I hope we in The World Bank Group have begun to listen and have started to change the way that we work.When it comes to resilience, we have been working with you to build resilience by strengthening countries’ and communities’ capacity to withstand the financial shocks that come from extreme weather events, to deal with the impacts of climate change and natural disasters, and to bounce back and recover quicker.Our approach to resilience is from the reef to the ridge. We try to work with small island states to promote your private sector investment in sustainable jobs and the competitiveness that will keep your economies alive. From fisheries to tourism, we see investment opportunity despite the risk associated with the long-term trends.At the same time, we are trying to ensure that disaster and climate resilience, as well as food and energy security, are fully integrated into your development plans. And to match the need you have to do that, we have from the 1st of July made disaster and climate risk screening a mandatory component of all of our lending into countries such as small island developing states. We hope and urge all other multilateral donors to do the same.In the Caribbean, we focus on competiveness, on debt reduction, strengthening governance, in order to reduce vulnerability to climate and disaster risks. The debt conversation and the climate conversation are in fact the same conversation when we think about climate from a resilience point of view. The EU and others have talked about the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which we are so proud to be a part of. It pools hurricane and earthquake risk for 16 Caribbean countries – soon to be joined by a number of neighboring Central American countries. And just a few months ago, in addition, we issued a three-year, US$30 million cat bond linked to disaster risk in the member countries. If a disaster strikes, the principal of the bond will be reduced and the insurance pool will receive a payout in the same amount – it essentially allows us to provide reinsurance to the CCRIF.This kind of financial innovation is essential. The mechanism set up in the Caribbean was the first of its kind. Now, thanks to a similar solution, six Pacific island countries can also buy catastrophe insurance coverage as much as 50 percent cheaper than if they did it on their own. This year, Tonga was the first to receive a payout, following Tropical Cyclone Ian. For a partial payment of the premium, around $10,000, Tonga has received payments totaling over $1 million out of the facility, and they received the first payments within two weeks of the disaster. This is a very smart investment in resilience. This is a very smart investment in risk.This insurance pool is part of a broader Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI). With the assistance from both the EU and Japan, we’ve also helped map more than 2 million buildings at risk across the region – from Apia to Majuro – enabling better disaster and climate risk planning.Building on the success in the Caribbean and the success in the Pacific, we can now build the same kind of approach to disaster risk assessment and financing in the Indian Ocean. And we are already seeing results with strengthened improvements of post-disaster budget mobilization and execution.So right now, more than 20 percent of our work with small islands is on programs that directly address climate and disaster risks. Over the past four years, our support has averaged US$145 million just for resilience. That’s going to increase to $190 million this year and go up. But we’ve heard from you, that it is not just the increase in the funds that matters most. In some cases, it is not really about the money. It is about how the money is made available. You’ve been very clear in telling us that you need the funding to be easily accessible and funding that is not fragmented in ways that further tax your capacities and your resources.We are cognizant of this. We understand the burdens on a country like Samoa, which is now managing 14 different projects on climate and disaster resilience. The Solomon Islands is managing 22. So, I hope that we’ve heard you; you have generic issues of resilience, but you’re also special. You don’t want new windows – we have to build on the windows of financing that are already available. We have to consolidate, and we have to streamline, and then we have to scale up. You need it now.I think that we completely understand that there is no financial, economic, social, or human benefit to not investing in resilience now. In fact, the residual risk simply goes up, and the cost of investment in reconstruction and resilience simply goes up, too. So the burden of management and of organization has to be more on us than on you. We would like to build on our existing program working with our partners to scale up small island states’ resilience, to meet the increase needs of small island nations.What we are trying to do is not a new initiative but to build on what we have already done, to cut through the red tape, to make it easier, faster, and simpler to access funding to deal with resilience and climate change. One way to think about it is that if we are successful and we can inject investment into resilience now it will, in addition, ready you for the eventual flow of funds from the Green Climate Fund and other climate finance sources. We hope that this initiative will help pool donor resource available now, reduce your transaction costs, allow for economies of scale across countries, and lay the groundwork for direct country access to global climate funds.You can think of it as perhaps your one-stop shop to deal with the real impacts of climate change. We are going to have to come together to make this work: small island states, donors, and the development community. We sincerely believe at The World Bank Group that it is the time and it is the place to join hands and, as you have asked us to do, form the partnership that will make this happen.We are confident that with your support we can step up, we can mobilize, and we can streamline, and we can inject the resources where you need them to those who need them most. Show Less -